Metro Portland Real Estate Market | Sept 2010 vs. Sept 2011 Comparison

Metro Portland Sept 2010 vs. Sept 2011

The information is based on comparing September 2010 activity in the Metro Portland Market to September 2011 activity. It is not a year-to-date comparison.

The chart really says what I've been thinking . . .

Inventory in the Metro Portland Market seems to be waning from Sept 2010 numbers.

What This Means for Sept '10 vs. Sept '11 AVERAGE Sales Prices?

And the odd thing is . . . the Average Sales Prices are DOWN nearly $10,000 from Sept. 2010 as well.

September 2010 - Average Sales Price: $279,900

September 2011 - Average Sales Price: $268,200

The Average Sales Price in the Metro Portland Market: DOWN 4.2%

What This Means for Sept '10 vs. Sept '11 MEDIAN Sales Prices?

Keeping with the <$10,000 difference between Sept '10 and Sept '11, the MEDIAN SALES PRICE in the Metro Portland Market has also slipped:

September 2010 - Median Sales Price: $240,000

September 2011 - Median Sales Price: $230,800

The Median Sales Price in the Metro Portland Market: DOWN 3.8%

What the Numbers Say:

• New Listings - DOWN 29.5%
• Pending Sales - UP 17.5%
• Closed Sales - UP 13.4%

Listings DOWN over 25% in the Metro Portland Market

Again, this is based on Sept. 2010 compared to CURRENT Sept. 2011. What this tells me is that:

• Buyers ARE out
• Buyers ARE closing transactions
• Buyers ARE not pushing pricing upwards

Comparing August 2011 to September 2011

• New Listings : DOWN 13.1%

Market Time is Holding Steady

For both Sept. 2010 and Sept. 2011 the Average Market Time is: Approximately 130 days

Average: All sold prices are added together into a sum, the sum is then divided by the number of houses that sold.

Median: Median is a mathematical result that indicates that one half of the group is higher and one half lower.